Bank of Nova Scotia Sells 23,300 Shares of Expand Energy Corporation $EXE

Bank of Nova Scotia trimmed its stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) by 37.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,576 shares of the company's stock after selling 23,300 shares during the period. Bank of Nova Scotia's holdings in Expand Energy were worth $4,235,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EXE. Capital Research Global Investors increased its stake in Expand Energy by 33.2% during the fourth quarter. Capital Research Global Investors now owns 21,251,283 shares of the company's stock valued at $2,345,303,000 after acquiring an additional 5,291,948 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Expand Energy by 36,574.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company's stock worth $267,172,000 after purchasing an additional 2,414,311 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Expand Energy by 94.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,498,905 shares of the company's stock worth $493,890,000 after purchasing an additional 2,188,422 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Expand Energy by 192.0% during the fourth quarter. Victory Capital Management Inc. now owns 3,286,361 shares of the company's stock valued at $362,683,000 after purchasing an additional 2,160,979 shares during the period. Finally, Dragoneer Investment Group LLC acquired a new position in shares of Expand Energy in the fourth quarter valued at $145,633,000. Institutional investors own 97.93% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on EXE shares. Barclays cut Expand Energy from an "overweight" rating to a "reduce" rating in a research report on Tuesday, May 26th. KeyCorp reaffirmed a "sector weight" rating on shares of Expand Energy in a report on Thursday, April 2nd. Weiss Ratings downgraded shares of Expand Energy from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, May 19th. William Blair lowered shares of Expand Energy from an "outperform" rating to a "market perform" rating in a research report on Thursday, April 30th. Finally, Citigroup lowered their target price on shares of Expand Energy from $125.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $130.19.

Expand Energy Stock Performance

Shares of NASDAQ:EXE opened at $88.52 on Wednesday. The business's fifty day moving average price is $90.29 and its two-hundred day moving average price is $98.95. Expand Energy Corporation has a fifty-two week low of $84.99 and a fifty-two week high of $126.62. The stock has a market capitalization of $21.18 billion, a price-to-earnings ratio of 6.60 and a beta of 0.34. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 1.11.

Expand Energy (NASDAQ:EXE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.20. Expand Energy had a return on equity of 10.26% and a net margin of 22.53%.The company had revenue of $2.96 billion during the quarter, compared to analysts' expectations of $3.05 billion. As a group, analysts predict that Expand Energy Corporation will post 8.41 EPS for the current fiscal year.

Expand Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 13th will be given a dividend of $0.575 per share. The ex-dividend date is Thursday, August 13th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 2.6%. Expand Energy's dividend payout ratio (DPR) is 17.15%.

Insider Activity

In other news, CFO Marcel Teunissen purchased 2,000 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The stock was purchased at an average cost of $96.43 per share, with a total value of $192,860.00. Following the acquisition, the chief financial officer directly owned 9,144 shares of the company's stock, valued at approximately $881,755.92. This trade represents a 28.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael Wichterich purchased 1,000 shares of Expand Energy stock in a transaction on Friday, June 12th. The stock was purchased at an average price of $88.90 per share, for a total transaction of $88,900.00. Following the completion of the transaction, the chief executive officer owned 85,498 shares of the company's stock, valued at approximately $7,600,772.20. This represents a 1.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 4,000 shares of company stock valued at $375,120 over the last three months. 0.22% of the stock is currently owned by insiders.

Expand Energy News Summary

Here are the key news stories impacting Expand Energy this week:

• Positive Sentiment: Second-quarter earnings beat expectations. Expand Energy reported adjusted earnings of $1.33 per share, above consensus estimates ranging from $1.13 to $1.22 and up from $1.10 a year earlier. Expand Energy Q2 Earnings Beat Estimates
• Positive Sentiment: Twin Eagle acquisition offers growth and integration benefits. EXE agreed to acquire privately held natural-gas marketer Twin Eagle for $1.25 billion. Management expects the deal to contribute more than $200 million in annual EBITDA initially and generate $150 million in annual synergies by the end of 2028, expanding Expand Energy’s reach across major U.S. and Canadian demand markets. Expand Energy to Acquire Twin Eagle
• Neutral Sentiment: The deal shifts EXE toward an integrated natural-gas model. Combining North America’s largest gas producer with a marketing and optimization platform could improve value capture and diversify earnings, but investors will likely monitor transaction funding, closing conditions and the pace of synergy realization. Expand Energy to Acquire Twin Eagle in $1.25 Billion Deal
• Negative Sentiment: Revenue missed forecasts. Quarterly revenue was $2.96 billion, below analysts’ $3.05 billion estimate. The revenue shortfall may be overshadowing the EPS beat, particularly as pre-earnings coverage cited downward estimate revisions. Expand Energy Earnings Results

About Expand Energy

Expand Energy Corporation is an independent natural gas producer principally in the United States. Expand Energy Corporation, formerly known as Chesapeake Energy Corporation, is based in OKLAHOMA CITY.

Want to see what other hedge funds are holding EXE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Expand Energy Corporation (NASDAQ:EXE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.